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Technicolor: Oddo BHF slashes target price

(CercleFinance.com) - After a road show with Technicolor's management, Oddo BHF is still not enthusiastic about the Tehnicolor share, maintaining its "neutral" rating that it adopted last week (having downgraded its previous "buy" rating).

Meanwhile, the broker has slashed its target price for the share from 3.5 euros to 1.8 euro (-48.6%).

This meeting between the management of the electronic equipment manufacturer and investors was the opportunity to further discuss the many disappointments in the publication of Technicolor's 2017 results, the broker states in a report, including a lack of recovery in Ebitda considered this year.

Confirming their rating downgrade last week, this morning, analysts draw the consequences of the "significant" reduction in their earnings estimates by reducing their target price.

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